The Swedish Fund Selection Agency gives notice of the procurement of actively and passively managed Swedish equity funds

FTN is today announcing two new procurements. One for actively managed Swedish equity funds and one for passively managed Swedish equity funds. Both categories have a main investment focus on equities in large and mid-cap Swedish companies. The actively managed Swedish equity funds category comprises approximately SEK 96 billion in premium pension fund capital and passively managed Swedish equity funds approximately SEK 59 billion. *

There are today 23 actively managed Swedish equity funds and 11 passively managed Swedish equity funds on the fund platform. FTN intends to procure a maximum of 10 actively managed Swedish equity funds and a maximum of 5 passively managed Swedish equity funds.

The two fund categories are procured through two separate procurements and fund managers wishing to participate in both therefore need to submit separate tenders.

“We hope that all fund managers who consider themselves to have competitive funds will submit tenders”

‘Swedish equity funds are an important building block for many savers and an important product for many Swedish fund managers. We hope that all Fund Managers who consider themselves to have competitive funds will submit tenders and contribute to a higher and more secure pension for pension savers’, says Erik Fransson, executive director of The Swedish Fund Selection Agency.

FTN published preliminary procurement specifications on 24 May 2024 for the two procurements that are now being given notice. This was to allow the market to comment and prepare for the procurements. The procurement specifications now published do not contain any significant differences compared to the preliminary specifications.

The fund agreements for the affiliated funds affected by the procurements will be terminated. However, the funds will remain available for trading on the fund platform until the procurements are finalised and the funds awarded fund agreements replace the affiliated funds.

Tenders must be complete
The notice of the procurement, which is published today September 9, 2024, means that fund managers can submit tenders, which must be received by FTN no later than October 31, 2024, digitally via the e-Avrop procurement platform. Participation requires the payment of a tender fee, which must be paid at the latest when the tender is submitted. Fund managers wishing to participate in both tenders must submit separate tenders.

For a tender to be evaluated by FTN, the fund, and the fund manager must fulfill the requirements of the specific procurement and the requirements for entering into a fund agreement with FTN, in addition to the completeness and accuracy of the tender submitted. To ensure that all potential tenderers are treated equally, no information relating to the procurement will be shared separately with individual tenderers. Fund managers have the opportunity to ask questions about the procurements via e-Avrop until October 21, 2024. FTN will publish answers to questions until October 25, 2024.

Further information can be found in the procurement documentation.

Tenders:

• Must be submitted via the procurement platform e-Avrop: www.e-avrop.com External link.
• A registration in e-Avrop is required to be able to submit a tender in the procurements.
• The deadline for submission of a tender is 31-10-2024 at 23:59 (CET)
• Questions and answers in the procurement process are handled via e-avrop.com.

Please note that documents received by an authority, such as tenders, are public documents and may therefore be disclosed in their entirety if someone requests access to them. However, information protected by confidentiality is not disclosed. It is therefore important that the fund manager clarifies which parts of the material submitted in the tender should be covered by confidentiality and describes in what way the fund manager would suffer harm if the information were disclosed. However, FTN will make an independent confidentiality assessment which in turn may ultimately be reviewed by a court.

*Data about the fund category as 2024-07-31. There is no guarantee that the procured volume will correspond to the current volume or number of pension savers.